Kenya’s renewable energy sector is set to receive global recognition and increased investments following the appointment of the Energy and Petroleum Regulatory Authority (EPRA) as the official local issuer of International Renewable Energy Certificates (I-REC(E)) by the International Tracking Standard Foundation. This milestone positions Kenya to distinguish itself in the energy market and attract environmentally conscious investors interested in supporting sustainable energy projects.

Significance for Kenya’s Energy Sector

  1. Global Recognition: By joining the I-REC system, Kenya is signaling its commitment to sustainable energy practices on an international scale. This recognition is expected to enhance the country’s reputation in the global energy market.
  2. Investment Attraction: The official issuance of I-RECs is likely to attract increased investments in Kenya’s renewable energy sector. Eco-conscious investors often seek opportunities in regions that actively promote and adopt sustainable energy solutions.
  3. Job Creation and Economic Development: The growth of the sustainable energy sector, fueled by increased investments, is anticipated to catalyze job creation and contribute to overall economic development in Kenya. This aligns with the government’s efforts to diversify and strengthen the economy.

EPRA’s Role and Mandate

Mr. Daniel Kiptoo Bargoria, the Director-General of EPRA, expressed his welcome for the development, emphasizing that it aligns with EPRA’s mandate to promote the adoption of renewable and sustainable energy in Kenya’s energy mix. The local application of I-RECs will not only help meet international commitments but also contribute to the country’s clean energy goals.

EPRA will play a crucial role in examining energy generation facilities across Kenya, ensuring that electricity generation originates from renewable sources. This process will reinforce transparency and accountability in the renewable energy sector.

Transition Period

While the finalization of EPRA’s official designation as an issuer is pending, the Green Certificate Company (GCC) will temporarily assume the role, facilitating a smooth transition to EPRA when it is ready. This temporary arrangement ensures that the issuance of I-RECs continues seamlessly during the transition period.

Final Thoughts

Kenya’s appointment as the official local issuer of I-RECs marks a significant step toward establishing itself as a key player in the global sustainable energy landscape. This development not only enhances the country’s appeal to investors but also contributes to the realization of clean energy goals, job creation, and economic growth. As EPRA takes on this pivotal role, the future of Kenya’s renewable energy sector looks promising, bringing both local and international benefits.